Tron founder Justin Sun's USDC transactions raise eyebrows $TRON USDT
Following recent developments in the cryptocurrency industry, Justin Sun told Reuters that,"depending on their evaluation of the situation," he was prepared to spend $1 billion of his own money to purchase assets from Digital Currency Group , the parent company of troubled crypto lender Genesis. Sun did not say which assets he was thinking about purchasing.
Amid a liquidity crisis, the cryptocurrency lending division of Digital Currency Group has been in private discussions with several creditors, and it is also thinking about selling some of its portfolios to raise money.that it engaged Lazard as a financial adviser to explore its options, including a partial or full sale.
Genesis Global Capital is preparing to file for bankruptcy as soon as this week, according to people with knowledge of the situation.
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